If you’ve ever typed "best superannuation fund" into ChatGPT or google you are overwhelmed with nonsense information.

"Gold Awards" here, "5-Star Ratings" here, and other badges everywhere. There are so many awards that everyone gets one ... making them participlaition trophies.

My Top Tips

1. The "Official" Data

It's technical and sometimes a bit difficult to navigate without excel skills but still very useful none the less.

‍The ATO YourSuper Comparison Tool

This is the only place where the data is 100% government-regulated and standardised.

‍What it tells you: It ranks funds by fees and net investment returns (performance minus fees).

• Why I like it: It’s not trying to sell you anything. It compares apples with apples.
• The downside: It’s a bit dry and requires a bit of work to compare all funds.

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APRA Heatmaps

‍This is my favorite. APRA (the regulator) releases "heatmaps" that show which funds are underperforming. Performance of super funds is shown by a traffic light system (plain = standard, yellow = not the greatest, red = bad). The drawdown with this tool, is that you can only select specific funds to compare (As opposed to everything). And again, this less so designed to show the "winners", but rather the "losers", as the highest "score" is being standard.

2. Customer Reviews

Sites like ProductReview.com.au or Google Reviews can be helpful, but they are all based on personal opinion.

• The Trap: People write reviews when they are angry. Perhaps the fund did desrve a 1 star rating. Ultimately, you only get one side of the sotry
• What to look for: Look for patterns in customer service. Are people consistently complaining that the call centre takes 3 hours to answer? That’s a valid red flag. Ignore the reviews about "low returns", the ATO provides better insight on this.

3. The "Comparison" Sites

You know the ones—the big commercial sites that compare everything from car insurance to credit cards.
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• The Good: They are very glossy and give the feel of "comparison".
• The Bad: Often, they highlight "Sponsored" products at the top. They might not show you every fund in the market, just the ones they have a relationship with.
• My advice: Use them to get a list of names, but don't just click "Join" on the first one you see. Do your own homework on the ATO site afterwards.

What Actually Makes a Plan "Top-Rated"?

Forget the shiny awards for a second. If I’m looking at a fund for my own super, I only care about three things:

1. Net Benefit (Performance minus Fees): I don't care if the fees are low if the returns are rubbish. I want to know what lands in my pocket. Look for the 10-year average return.
2. Technology: How easy is it to do business with them? Can I get support if I need? Try downloading their app and finding out what the experience is like.
3. Insurance Value: What type of insurance is provided? Top-rated funds offer decent cover (Death and TPD) without ripping you off on premiums.